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Worried about Binance? Shouldn’t be!

Altcoins started going sideways today after a quick rally from yesterday, many speculating that this is result of the absence of Binance exchange.

Binance is one of the top exchanges by volume and they just went offline 12 hours ago first without any notice. As usual, some users started panicking instantly and started generating FUD on Twitter. Several messages stated that Binance is hacked and that we shouldn’t be using it. The operator team gave out a short notice not much later stating:

“ Due to a significant increase in users and trading activity, Binance will need to extend the system upgrade and is expected to be completed by 2pm (UTC).
Our team is working hard to complete this maintenance as quick as possible. We will make an announcement to all users if completed ahead of schedule.

Withdrawals and trading during this period will remain suspended. We apologize for any inconvenience caused and thank you for your patience”

Of course this doesn’t really calm the people, hence we are pleased to inform you that everything should be resolved pretty soon. Binance just informed the crypto world that it is going to be fully operational 2018-02-09 4am (UTC) as an unforeseen slowdown occurred in their data sync. Users are going to have 30 minutes to utilize all account related functions prior the commencement of trading.

In case of any new piece of information we will update our readers right away. Stay tuned!